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maam I know this is really silly, especially since it comes this late.
I understand that notes from discussion with managment be stored, copy of bank statements/lease agreements etc. can be stored/ results of relation too can be stored as audit evidence on the working paper file, but how can the audit manger to expect to find:
“A review of the board minutes for evidence of management’s discussion of the sale and leaseback transaction and any evidence in relation to the transfer of control.”
“Agreement of the carrying amount of the property to the non?current asset register to determine whether the correct amount has been derecognised and whether the gain or loss on disposal has been recorded correctly.”
“Review of the draft financial statements to confirm that details of the sale and leaseback transaction, such as the gain or loss arising on the transaction, have been disclosed in line with the requirements of IFRS 16.”
You don’t have to be too exact about how something might be documented in the working papers but, for example:
1. A schedule could set out all the dates of the board meetings and summarise all the decisions that might be relevant to the financial statements.
2. Indicated by an audit “tick” that means it has been agreed to the non-current register.
3. Referenced on an IFRS disclosure checklist.
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